| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 47 | 72.0x | 17.8x | Around median | |
Growth | 36 | 17.9% | 7.1% | Bottom tier | |
Quality | 63 | 12.7% | 4.5% | Around median | |
Safety | 54 | 2.7x | 2.6x | Around median | |
Capital Return | 33 | 0.00% | 2.12% | Bottom tier | |
Momentum | 92 | 5.3% | 2.9% | Top tier | |
Sentiment | 64 | 3 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
CVR Energy operates through two principal businesses linked to the commodity cycle: oil refining and nitrogen fertilizer production. The refining segment generates revenue from processing crude oil and selling gasoline, diesel, and jet fuel, while the fertilizer segment relies on ammonia and UAN production; the company owns approximately 37% of the common units in CVR Partners, entitling it to proportionate cash distributions of approximately $24 million for fiscal Q2 2026.
In fiscal Q2 2026, revenue according to EDGAR filings was approximately $2.7 billion, and gross profit was $117 million, equivalent to a gross margin of approximately 4.3%, while a net loss of $3 million and a loss per share of $0.03 were recorded. The earnings call stated that consolidated net income was $46 million, but the loss attributable to CVR Energy stockholders was $3 million, while EBITDA reached $161 million, adjusted EBITDA reached $209 million, and adjusted earnings per share reached $0.34.
The petroleum segment's adjusted EBITDA was $106 million in fiscal Q2 2026, compared with $38 million in the comparable quarter, while the fertilizer segment's adjusted EBITDA was $107 million versus $67 million. The refineries achieved crude utilization of 98% and total throughput of approximately 213 thousand barrels per day, while the ammonia plants recorded utilization of 99%; however, the refining margin capture rate was limited to 28% of the Group 3 2-1-1 benchmark due to RIN costs, hedging losses, and the decline in the WTI curve. Operating cash flow was $307 million and free cash flow was $264 million during the quarter, with a consolidated cash balance of $737 million as of June 30, 2026.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is "Neutral," with an average price target of $31 within a target range of $28 to $35; the average lies within the 52-week range of $19.62–$42.20 and is approximately 26.5% below its high. No published price-to-earnings ratio is available in the data, which is consistent with earnings volatility between a loss of $192 million in fiscal Q1 2026 and a loss attributable to stockholders of $3 million in Q2, despite trailing-twelve-month net income turning positive at $69 million. The more than twofold spread between the low and high of the 52-week range reflects the valuation's sensitivity to refining cracks, RIN costs, and hedging results, factors that limit the usefulness of the consensus target on its own.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
The operational improvement came from crude utilization of 98% and total throughput of 213 thousand barrels per day, alongside an increase in the Group 3 2-1-1 benchmark to $44.91 per barrel. The petroleum segment's adjusted EBITDA rose to $106 million from $38 million, and its fertilizer counterpart rose to $107 million from $67 million. However, RIN expense of $216 million and a realized hedging loss of $81 million reduced the benefit to stockholders from market strength, leaving the period with a loss attributable to CVR Energy stockholders of $3 million.
RIN expense, excluding the change in the RFS liability, was approximately $216 million, or $11.16 per barrel, in fiscal Q2 2026. This cost reduced the Group 3 2-1-1 benchmark capture rate by approximately 25 percentage points, leaving the adjusted actual capture rate at only 28%. As of June 30, 2026, the estimated outstanding RFS liability reached $408 million, while the RIN revaluation impact was approximately $169 million at an average price of $2.41.
The company recorded total derivative losses of $75 million in fiscal Q2 2026, consisting of a realized loss of $81 million and an unrealized gain of $6 million. Hedges covering approximately 4.4 million barrels were settled during the quarter, and the realized loss reduced the margin capture rate by approximately 9 percentage points. As of July 30, 2026, positions covering approximately 8.2 million barrels remained, including 4.6 million barrels of diesel and 0.4 million barrels of gasoline for the remainder of fiscal 2026.
CVR Energy expects ammonia utilization to decline to 75%–80% in fiscal Q3 2026 due to the planned turnaround beginning in late August 2026. It estimated turnaround expenses of between $30 million and $35 million, and direct operating expenses for the fertilizer segment, before inventory and turnaround effects, of between $57 million and $62 million. In return, the company intends to complete an expansion during the turnaround that is expected to increase East Dubuque's ammonia production capacity by approximately 5%.
The company ended fiscal Q2 2026 with a consolidated cash balance of $737 million, of which $137 million was within the fertilizer segment. Liquidity outside CVR Partners was approximately $1.1 billion as of June 30, 2026, while the company generated operating cash flow of $307 million and free cash flow of $264 million during the quarter. Management is targeting a reduction in total debt outside CVR Partners to $1 billion, while simultaneously declaring a distribution of $0.10 per share for fiscal Q2 2026.
The stock carries a "Neutral" consensus and an average price target of $31, with a low target of $28 and a high target of $35. The average target is approximately 26.5% below the 52-week range high of $42.20, while the full range extends from $19.62 to $42.20. The data does not include a published price-to-earnings ratio, so CVI's valuation in this data is based to a greater extent on the trajectory of refining margins, RIN costs, hedges, and the company's ability to convert EBITDA into earnings attributable to stockholders.
